By Paul A. Harris
Portland, Ore., April 20 - Croatia's Agrokor dd priced a €300 million issue of seven-year senior notes (B2/B) at par to yield 9 7/8% on Friday, according to a market source.
The yield printed at the tight end of price talk that was set in the 10% area.
A proposed dollar-denominated tranche was withdrawn from the market.
BNP Paribas, UniCredit SpA and J.P. Morgan Securities LLC were the joint bookrunners.
The Zagreb, Croatia-based consumer food products company plans to use the proceeds to refinance debt.
| Issuer: | Agrokor dd
|
| Amount: | €300 million (proposed dollar-denominated tranche withdrawn)
|
| Maturity: | May 1, 2019
|
| Securities: | Senior notes
|
| Bookrunners: | BNP Paribas, UniCredit SpA, J.P. Morgan Securities LLC
|
| Co-managers: | Erste Group, Banka Intesa, Raiffeisen Bank International, SG CIB
|
| Coupon: | 9 7/8%
|
| Price: | Par
|
| Yield: | 9 7/8%
|
| Spread: | 870 bps
|
| Call protection: | Three years
|
| Trade date: | April 20
|
| Settlement date: | April 25
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 10% area
|
| Marketing: | Roadshow
|
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